The Real Deal Miami

Miami-based Pensam closes on 925-unit partnership

September 12, 2011 05:06PM

Miami-based Pensam Capital closed on its investment in a portfolio of four rental apartment complexes totaling 925 units in Texas and Iowa. The complexes are managed by BH Management, Pensam’s longtime partner in its multi-family investment strategy. BH presented the investment opportunity to Pensam, which now has a stake in more than 2,400 units nationwide. “This investment represented an excellent opportunity to acquire strong income-producing assets with a proven track record of stable returns in markets where our partner has a major management footprint,” said Pensam principal Michael Stein. — Adam Fusfeld